Prudential Assurance Malaysia Berhad (PAMB), a subsidiary of UK-based Prudential plc, continued to perform strongly amid a difficult and volatile market condition, posting a 33% growth in its new business sales for the third quarter of 2008 compared to the same period in 2007.
The insurer’s new business annual premium equivalent (NBAPE), which included
Takaful sales, stood at RM181 million for the third quarter ending September 30. This represents
a significant increase over the RM136 million recorded in the same quarter of 2007. Its total
NBAPE sales for the first nine months were RM451 million, up 20% on a year earlier.
Commenting, Bill Lisle, Chief Executive Officer of Prudential Malaysia said: “We are very proud to
be able to deliver yet another strong performance, particularly given the challenging economic
environment that we faced in recent weeks.” Lisle attributed the company’s high double-digit
growth to the effectiveness of a transformation programme, which was implemented since April
this year to help propel the established 84-year-old business to achieve quantum leap results by
2010. On Tuesday (October 21), Prudential plc released its 2008 third quarter new business
results where the total Group insurance sales for the first nine months were up 15% compared
with the same period last year.
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